State of Michigan Retirement System Has $1.89 Million Stock Position in BorgWarner Inc. (NYSE:BWA)

State of Michigan Retirement System cut its stake in shares of BorgWarner Inc. (NYSE:BWA) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,388 shares of the auto parts company’s stock after selling 2,600 shares during the period. State of Michigan Retirement System’s holdings in BorgWarner were worth $1,888,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in BorgWarner during the third quarter worth about $32,000. True Wealth Design LLC acquired a new stake in shares of BorgWarner in the 3rd quarter valued at approximately $38,000. Avior Wealth Management LLC boosted its stake in BorgWarner by 31.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock worth $46,000 after acquiring an additional 342 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in BorgWarner during the third quarter valued at approximately $62,000. Finally, Principal Securities Inc. increased its stake in BorgWarner by 59.1% in the fourth quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company’s stock valued at $62,000 after purchasing an additional 720 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BWA. TD Cowen cut shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research report on Friday. Evercore ISI reduced their target price on BorgWarner from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a report on Thursday. Barclays cut their price objective on BorgWarner from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lowered their target price on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.93.

BorgWarner Stock Up 1.6 %

BWA stock opened at $29.85 on Friday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 0.77 and a beta of 1.21. BorgWarner Inc. has a twelve month low of $27.90 and a twelve month high of $38.22. The business has a 50 day moving average price of $30.93 and a two-hundred day moving average price of $32.88. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. Analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Monday, March 3rd. BorgWarner’s payout ratio is currently 30.77%.

Insider Buying and Selling

In other news, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the transaction, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. The trade was a 38.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Tonit M. Calaway sold 13,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $30.16, for a total value of $407,160.00. Following the transaction, the chief accounting officer now directly owns 259,310 shares in the company, valued at $7,820,789.60. The trade was a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

BorgWarner Profile

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.